Insurance Age

Hiscox sees GWP rise to £1bn as profit and COR improve

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    • Caitlin Morrison

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Hiscox has reported a pre-tax profit of £181m for the first six months of 2013, up from £126m in the same period of 2012

The provider saw gross written premium (GWP) also grow, from £906m to £1.02bn while the group combined operating ratio (COR) improved by 7% to 74.7% (HY 2012: 81.7%). 

Hiscox UK, which covers the UK and Ireland, saw its profit before tax more than double, from £16m in the first six months of 2012, to £34m this year.

The division’s GWP increased from £184m to £206m, while its COR progressed from 95.2% to 87.7%.

According to the insurer, the growth in premium was “driven primarily by specialty

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